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(Suma) in favour of the petitioners is cancelled.Senior Citizens Act – Section 23 Can’t Be Invoked If Release Deed Is For Consideration : Karnataka High Court

The Karnataka High Court has held that a senior citizen cannot invoke Section 23 of Maintenance and Welfare of Parents and Senior Citizens Act, 2007, when the release of property was not out of natural love and affection but for a consideration. A single bench of Justice Hemant Chandanagoudar allowed the petition filed by two medical practitioners challenging the order dated 26/6/2020 passed by the Assistant Commissioner (Dharwad), whereby the release deed dated 11/7/2018, executed by the respondent No.2

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.